(Photo credits: Flickr – L. Grassin)
(AOF) – Carrefour and the Mulliez family would have started discussions last spring with a view to a merger between the world number two in mass distribution and its competitor Auchan, revealed this morning Le Monde. “According to some, the negotiations would have stalled before the summer for lack of an agreement on parities but, according to an investment banker, the dialogue would not be broken”, specifies the daily. This merger, if successful, would allow Carrefour to become leader on the French market, ahead of Leclerc.
Le Monde rightly mentions the difficulties of such a merger from the point of view of the competition authority, Carrefour having a market share of 19% in France, and Auchan, 8.9%. Financially also the transaction promises to be delicate, the Carrefour group being listed on the stock exchange, while its competitor is owned by the Mulliez family.
As a reminder, Carrefour was almost bought at the beginning of the year by the Canadian Couche-Tard, before the French government opposed it, invoking French food sovereignty. The failure of this merger had precipitated the exit from the capital of the distributor of Bernard Arnault, who sold the 5.7% held by his holding company Agache at the end of August.
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